More than 90 suspected loan sharking suspects arrested in October

According to news reports, more than 90 loan sharking suspects have been arrested in the month of October throughout the island of Singapore.

October 25, 2015, 1:52 PM SGT

SINGAPORE – An island-wide police operation that took place over four days last week has resulted in the arrest of 90 suspects for their involvement in loansharking activities.

The 71 men and 19 women – aged between 18 and 67 – were nabbed by officers from the Criminal Investigation Department and six Police Land Divisions at multiple locations in Singapore during the operation from Monday to Thursday (Oct 19-22).

In a Facebook post on Sunday (Oct 25) morning, the Singapore Police Force said preliminary investigations revealed that one of the suspects was believed to have been running an unlicensed moneylending business.

October 30, 2015, 6:32 PM SGT

SINGAPORE – A 20-year-old man suspected of being behind several loanshark harassment cases around the island was arrested in the early hours of Friday (Oct 30).

Officers on patrol at Clementi West Street 2 spotted the man loitering around the HDB estate at about 2.05am. Police said he was found with loanshark paraphernalia and subsequently arrested.

The man is believed to have splashed paint on debtors’ units and scrawled graffiti on walls in areas such as Jurong East, Woodlands, Bedok and Tampines.

The suspect will be charged in court on Saturday for loanshark harassment under the Moneylenders Act. If found guilty he could be fined up to $50,000 and face up to five years in jail and up to six strokes of the cane.

Remember to borrow only from licensed moneylenders!